Merit Financial Group LLC Invests $211,000 in Xcel Energy Inc. (NASDAQ:XEL)

Merit Financial Group LLC acquired a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,403 shares of the company’s stock, valued at approximately $211,000.

Several other large investors have also recently added to or reduced their stakes in XEL. Raymond James Financial Services Advisors Inc. increased its position in Xcel Energy by 4.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 131,502 shares of the company’s stock worth $7,525,000 after purchasing an additional 6,194 shares during the last quarter. Mackenzie Financial Corp raised its position in Xcel Energy by 166.9% during the third quarter. Mackenzie Financial Corp now owns 162,345 shares of the company’s stock valued at $9,065,000 after acquiring an additional 101,521 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Xcel Energy by 20.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 559,046 shares of the company’s stock valued at $31,989,000 after acquiring an additional 95,629 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Xcel Energy in the third quarter worth approximately $311,000. Finally, Graypoint LLC acquired a new position in shares of Xcel Energy during the 3rd quarter worth $213,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI increased their target price on shares of Xcel Energy from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. StockNews.com raised Xcel Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada increased their price target on Xcel Energy from $67.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, January 30th. Finally, Bank of America boosted their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.83.

Xcel Energy Price Performance

NASDAQ:XEL opened at $55.24 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $69.71. The company has a fifty day moving average price of $53.05 and a 200 day moving average price of $57.81. The stock has a market cap of $30.69 billion, a P/E ratio of 16.59, a PEG ratio of 2.38 and a beta of 0.36.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. Xcel Energy had a net margin of 13.36% and a return on equity of 11.03%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue was down 10.6% compared to the same quarter last year. Analysts anticipate that Xcel Energy Inc. will post 3.56 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were given a $0.548 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.52. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

Xcel Energy Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.